Melbourne Overseas Missions Fund Inc

image showing cover image of Melbourne Overseas Mission's 2004 Annual Report

INDEPENDENT AUDIT REPORT
TO THE MEMBERS OF
MELBOURNE OVERSEAS
MISSIONS FUND INC.
Registered Number A0010312L

Scope

We have audited the summarised financial report of Melbourne Overseas Missions Fund Inc. for the financial year ended 30 November 2004 in accordance with Australian Auditing Standards.
The summarised financial report is derived from the Association's annual statutory financial report.

Audit Opinion

In our opinion, the information contained in the summarised financial is consistent with the annual statutory report from which it is derived and upon which we expressed an unqualifed audit opinion in our report to the members dated 18 May 2005. For a better understanding of the scope of our audit, this report should be read in conjunction with our audit report on the annual staturory financial report.

BDO
Chartered Accountants

J F KNOTT
Partner

STATEMENT OF FINANCIAL PERFORMANCE
FOR YEAR ENDED 30 NOVEMBER 2004

	2004	2003
REVENUE	$	$
Donations and Gifts -
Monetary and non-monetary (1)	702,782	758,541
Legacies and Bequests	547,917	15,000
Investment Income	22,013	5,306
Other Income
TOTAL REVENUE	1,272,712	778,847

EXPENSES
Overseas Projects
- Funds to Overseas Projects (1)	584,259	710,309
- Other Project Costs		10,242
Domestic Projects
Community Education	6,411	6,823
Fundraising Costs
- Public	6,412	7,084
- Government and Multilaterals
Depreciation	559	831
Adminsitration	12,930	13,572
TOTAL EXPENSES	610,012	748,825

Excess of Revenue over Expenses (shortfall)	662,700	30,022
Funds available for future use at beginning of financial year	32,186	2,164
Amounts transferred to reserves	694,886	32,186

STATEMENT OF FINANCIAL POSITION AS AT 30 NOVEMBER 2004

ASSETS
Cash at bank	103,220	27,172
Cash on deposit	612,038
Receivables	32,299	154
Prepayments	6,518	3,462
Property, plant and equipment	839	1,398
TOTAL ASSETS	754,914	32,186

LIABILITIES
Payables	60,028
TOTAL LIABILITIES	60,028

Net Assets	694,886	32,186

EQUITY
Funds available for future use	694,886	32,186

TOTAL EQUITY	694,886	32,186

Cash Movements for Designated Purposes for the year ended 30 November 2004

Cash Available At Beginning of Year $27,172	Cash Raised During Year $825,871
Cash Disbursed During Year $137,785	Cash Available At End of Year $715,258

PURPOSE: To encourage self help and self reliance through education programs of literacy, gender-equality, human rights, health, hygiene, agriculture, cottage industry and small business cooperatives.

Note 1: During the financial year 2003-2004, the St. Paul Overseas Aid Fund (OAF) Committee packed and forwarded to 92 Mission Stations a total of 563 boxes (600 in 02/03) and each weighing an average of 16 Kg and valued overall at $405,360 ($518,400 in 02/03). Melbourne Overseas Missions Fund Inc. assisted St Paul's Overseas Aid Fund in meeting the large freight cost on these boxes by contributing $48,000 ($59,000 in 02/03). Any extra freight costs were borne by St Paul's OAF from their own resources. Items contained in the boxes consisted of urgently required medical supplies such as wound dressings and bandages, soap, sheets, blankets and clothing. In addition MOM forwarded 32 boxes (454kg) valued at $10,000 to PNG. These items consisted of books, computer equipment and clothing.

It is stated that no single appeal for a designated purpose
generated 10% or more of total income for the period under review.

An audited full financial statement is available on request to the secretary, Melbourne Overseas Missions.
Additional information and reports are available on the web site or by Email to secretary@mom.org.au

Melbourne Overseas Missions Fund Inc.
Cardinal Knox Centre
PO Box 146, East Melbourne, Victoria 3002